The M1 represents Apple’s best effort running on the world’s most advanced manufacturing process.
It’s a pretty safe bet that up until now the Qualcomm team hasn’t been given the freedom or the resources to make their best effort on a general-purpose desktop-class chip. Now that Apple has shown what is possible, you might think that the gloves are coming off. Especially if Microsoft and/or Samsung* indicate that they would buy such a chip at the price it would have to be sold at.
* Microsoft and Samsung currently sell ARM-based laptops, with the Microsoft version being a slight modification of the Qualcomm chip in the Samsung.